The company is expected to be valued at no less than $800 million.
The moves are part of a deep cost-savings drive at the bank.
The Swiss lender is already cutting its overall bonus pool for 2022 by as much as 50%.
The company could be valued at more than $1 billion.
The IPO freeze is extending into block trades as well, another business traditionally lucrative for investment banks.
Many special-purpose acquisition vehicles are struggling to seal the deals that are their reason for being.
Henry Engelhard Steinway founded the now-famous company in a Manhattan loft in 1853.
Big underwriters are rethinking their plans in light of a crackdown on blank-check companies.
Private equity firms have been using their war chests to go shopping for technology-focused financial services firms.
The move applies to offices in New York City and Jersey City, New Jersey.
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